Apto Commercial Real Estate Blog

Whether it’s cold calling or reconnecting with past clients, brokers spend a lot of time on the phone. But the key to winning more deals isn’t simply the number of hours you spend dialing — it’s about using that time effectively.

Although tech adoption has increased in recent years, the commercial real estate industry is still pretty old school. But that won’t be the case forever, and from the industry age gap to changing preferences in the workplace and market, Millennials, and Generation Z are already making waves throughout the industry.

Many segments of the CRE world are in need of young talent. The latest National Association of Realtors Commercial Member Profile said the median age of a commercial realtor was 60 years old. That dynamic is pushing companies across the industry to hire younger workers, and when it comes to work/life balance and commercial space needs, America’s younger generations have different expectations than their predecessors.

From a growing demand for remote work to market changes impacting future space needs, Millennials and Generation Z are forcing the industry to evolve.

Before the days of more sophisticated technology, businesses had to manually stay up-to-date with their schedules, client information, and all other important data.

And many still do. Small businesses in particular are less less likely to have more advanced technology due to cost. Instead, they often still rely on spreadsheets or handwritten notes, which only increases the likelihood of making careless mistakes, like forgetting commitments or losing important information.

These days, thanks to new technology, staying organized is easier--and cheaper--than ever. While commercial real estate has traditionally lagged behind new technology, we’re starting to catch up. New customer relationship management (CRM) platforms designed specifically for CRE started to spring up a few years ago, and are continuing to mature and become more popular, easier to use, and less cost-prohibitive.

Nobody likes to fail. Yet despite our attempts to avoid it, from time to time we all do. Whether it’s losing prospects to competitors or being unable to agree to final terms, everyone in this industry has at least a couple failures under their belt.

That’s admittedly easier said than done, but you can simplify the process by asking the right questions. From accurately identifying what went wrong to finding the best way to move forward, ask yourself these four questions after every failed deal to learn from your mistakes and forge ahead.

"Hackathons are so valuable because they are a time when we're able to think past the next day or week and just build without constraints. Taking this time to think differently pays off with new ideas.”

- Pedram Keyani, Director of Engineering at Facebook

If you’re at all familiar with the tech world, you might have heard about hackathons. A hackathon is defined as “an event, typically lasting several days, in which a large number of people meet to engage in collaborative computer programming.” I’ll note that while it started with computer engineers, it can also be more than that.

The goal is to refresh team creativity, take a break from day-to-day tasks and habits, and refocus on the bigger mission of the organization. At Apto, that means building tools brokers love.

We’re still adjusting to the New(ish) Year and all the buzzwords and trends that come with it. Whether it’s different consumer patterns or expectations, commentary on workforce changes, or just new best practices, it’s worth brushing up on the latest trends. Here are three that you should take note of as you work to advance your business in 2018.

The list includes many of the country’s largest cities and is heavily focused on the East Coast, but it still isn't clear where Amazon will build its new $5 billion campus and create 50,000 high-paying jobs.

From top contenders like Washington D.C. to cities that surprisingly failed to make the cut, we decided to take a closer look at how the Amazon HQ2 race is unfolding.

We’ve all heard the rhyme about making new friends and keeping the old, but sometimes we forget just how gold those old relationships can be.

From referrals to continued business, most brokers rely on past clients to prospect and churn out more deals. (That’s why we made it an auto-generated call list in Prospect & Nurture.)

Yet the longer you go without connecting with a past client, the greater the chance that relationship will fade. And since it costs five times as much to attract a new client than to keep an old one, there’s no reason you should let a past client forget you.

From passing on news to picking up the phone, use these seven strategies to make sure that never happens.

If a picture is worth a thousand words, then a map is worth a thousand spreadsheets.

That’s why we created Apto Maps. This new tool within Prospect & Nurture helps you prospect and win deals by giving you visual, interactive tools to analyze your market. You’ll be able to turn location-driven observations into action with smarter call lists and deeper insights.

Maggie Ham is a senior project manager at Apto. She has helped brokerages of all different sizes find success with our technology. We sat down with her to learn what makes an Apto customer successful, and what practices can ultimately sabotage a technology roll-out.

Maggie focuses on CRM, and it’s important to note that this needs to be set up right to take advantage of our prospecting and mapping tools. It’s your data, and it needs to be organized so you’ll take action on it! Here’s how to get set up for success.

The majority of brokers we know are professional, hard-working, and great with people—which is essentially a prerequisite for being successful in this industry, right?

Still, we were fascinated toread complaints about brokers and other commercial real estate professionals who were apparently coming across as rude, entitled, and condescending—and turning off potential clients and investors in the process.

Technology is evolving faster than ever before. From Bitcoin’s explosive growth to drones buzzing in parks and construction sites across the country, 2017 was a year of rapid tech growth.

There’s reason to believe that growth will accelerate this year, and given how technology is impacting every segment of the industry, CRE professionals would do well to stay on top of unfolding trends—even those not directly related to the industry. From the fate of blockchain to increased job automation, here are six tech predictions for 2018.